Michael Saylor and Cryptocurrency Tycoons Lost Billions of USD After the October Market Crash

According to the Bloomberg Billionaires Index released on Wednesday, Michael Saylor, Strategy’s executive chairman, lost $2.6 billion over the past 12 months, reducing his net worth to $3.8 billion. These losses occurred after a sudden downturn in October, causing Bitcoin and related cryptocurrency stocks to plummet after months of strong growth. Bitcoin’s Decline Erased Gains from Strategy’s Bold Bond Betting Bloomberg notes that Strategy’s ambitious Bitcoin investment strategy delivered outstanding returns until early October, when Bitcoin hit a new all-time high. That growth quickly reversed as Bitcoin’s price dropped sharply, dragging Strategy’s stock price down more than 50% and wiping nearly $6 billion from Saylor’s net worth compared to its peak. Several other prominent figures in the crypto world were also affected. Changpeng Zhao, also known as CZ, saw his assets decrease by about 5% since January 1, with his estimated net worth now at $50.9 billion, according to Bloomberg. Meanwhile, Cameron Winklevoss and Tyler Winklevoss were the hardest hit, losing about 59% of their total assets during the same period due to falling cryptocurrency prices and declining trading volumes. These losses contrast with the overall wealth trend among billionaires. Bloomberg reports that only eight individuals account for about 25% of the total $2.2 trillion in profits earned by billionaires in 2025, highlighting sector disparities that year. Not all crypto-related executives are struggling. Jeremy Allaire, CEO of stablecoin issuer Circle, is said to have increased his net worth by 149% since June, thanks to growing interest in dollar-backed stablecoins and the passage of the US GENIUS Act, which established a federal framework for payment stablecoins. Despite volatility, corporate interest in digital asset reserves continues to grow. Data from Bitcointreasuries.net shows that 192 publicly traded companies now hold Bitcoin on their balance sheets, a significant increase from a year ago. Bitcoin itself remains under pressure. The cryptocurrency has declined about 7% since the start of 2025, after reaching over $126,000 in October before falling to around $80,000 by the end of November. Bitwise’s Chief Investment Officer Maintains Optimism for Bitcoin’s Outlook in 2026 Bitwise’s CIO, Matt Hougan, downplayed expectations that US politics would drive the next rally. Although Bitcoin surged to a record high in early 2025 following Donald Trump’s inauguration, Hougan believes that this administration is unlikely to generate significant new growth. Looking ahead to 2026, industry opinions remain divided. Fidelity’s Global Macro Economic Research Director, Jurrien Timmer, suggests 2026 could be a year of stagnation, with prices possibly falling to $65,000. Others remain more optimistic. Strategy’s CEO, Phong Le, argues that Bitcoin’s fundamentals remained solid throughout 2025 despite price weakness, while Bitwise’s Matt Hougan stated earlier this year that he expects 2026 to be a “growth year” for the asset. According to Linh Tran, a market analyst at XS.com, recent Bitcoin price movements indicate that the market is more sensitive to monetary policy expectations than to key economic data.